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Category: World’s Economy

The billionaire investment expert George Soros has become one of the world’s most recognizable philanthropists on Fortune.com after the establishment of a number of foundations designed to complete educational and legal work for those in need. The Website of George Soros details the work he has completed to establish a large group of charitable foundations and the difficult life he led during World War II. A major obstacle to the work of two of the foundations established by George Soros with news that Russian officials have placed an operating ban on their work for security reasons.

The Russian ban comes after George Soros had become vocal in his backing of a package of aid for the country of the Ukraine that would total more than $50 billion, according to CNBC. The threat of Russian aggression against members of the European Union has been a subject Soros has been particularly vocal about, which may have influenced the decision to ban the charitable work of the Open Society Foundations and a linked charitable group. The news comes as something of a shock to the leaders of the charities after they had previously been praised by Russian leaders for the good works completed over the more than 30 years the foundation has been in place.

George Soros has made a large amount of his fortune from a hedge fund established soon after the arrival of the Holocaust survivor in the U.S. following his education in London. The ban comes after around 53 books linked to George Soros and his democracy based foundation were burned by Russian students following his public stance on the Ukraine, CNBC reports. Philanthropy now plays an important part in the life of George Soros after he began his charitable foundations in the late 1970s when his hedge fund reached a $100 million value.

Over the course of the last few years George Soros has been seeking to extend the work of his democracy backing foundations, but issues regarding democracy have become important to the people of Russia. Soros believes the threat to European and global peace presented by Russia has the ability to cause the collapse of the entire European Union. George Soros has been seeking to publicize the problems facing the continent of Europe and feels the future of the continent could be affected by the economic and political situation in the Ukraine, which has been in a state of flux since the invasion of areas by Russian forces.